Tinubu running an ‘animal farm’ economy - Atiku

Phrank Shaibu, the former Vice President Atiku Abubakar's Special Assistant on Public Communication, has criticized the Bola Tinubu administration, citing the latest inflation figures of 26.72% and a food inflation rate of 30.6%.

Shaibu, in a statement made available to Legit.ng on Tuesday, October 17, attributes these high inflation rates to what he sees as incompetence and a lack of direction within the Tinubu government.

Shaibu points to several critical policy decisions contributing to rising inflation. He criticizes Tinubu's removal of petrol subsidies, his handling of the exchange rate unification policy, and the introduction of VAT on diesel, all of which he considers ill-informed and poorly executed.

He specifically mentions the belated removal of VAT on diesel, which he views as evidence of the haphazard nature of Tinubu's administration.

As contained in the statement, Shaibu dismisses Tinubu's declaration of a state of emergency on food security as mere rhetoric, given the continuous increase in food prices.

Shaibu added: “Food prices in several parts of the world are dropping. However, they are increasing in Nigeria because the country is being governed by an economic Lilliputian whose only bragging right is increasing the revenue of Lagos State through multiple taxation and the institutionalisation of extortion.

“He knows nothing about exchange rate, monetary policy, or even how to run a multi-ethnic and largely agrarian country like Nigeria. This was a man who said last year that the only way to solve unemployment was to employ 50 million youths into the army and feed them with ‘Agbado (corn), cassava and ewa (beans). How can such a man have the answers to Nigeria’s problems?”

Shaibu characterizes the Tinubu administration as wasteful, emphasizing that money is being squandered despite limited resources, reflecting the government's lack of sincerity.

He added: “Even at a time when he is calling on everyone to tighten their belts, he inaugurated the largest cabinet in Nigeria’s history and is set to plunge Nigeria deeper into more debt. Tinubu govt alleged of returning to payment of fuel subsidy"

He calls on Nigerians to remain patient while the Supreme Court addresses the alleged electoral issues from February 25, 2023, implying that the current government's actions have been questionable.

Shaibu alleged that the Nigerian government may have secretly reintroduced subsidies on petrol, leading to a significant price gap between petrol, kerosene, and diesel. He warns that if the Tinubu administration continues for a year, Nigerians may experience increased poverty.